SENIOR OPERATIONS ASSOCIATE - LETTERS OF CREDIT
Currently seeking a Senior Operations Associate - Letters of Credit. This individual will be responsible for:
· Timely and accurate processing of (a) Standby Letters of Credits to include drafts, issuances, amendments, drawings, bank to bank backstops to cover overseas Guarantee issuances, etc.; (b) Monitor evergreens as necessary; (c) Risk participations taken under Letters of Credits including associated changes; (d) Reconciliation of related fees, billing, etc.
· Assist in processing of commercial loans when needed. Ensure that timely, accurate records/information are maintained/ provided as requested, and that all relevant controls & procedures are followed.
· Five to ten years “hands on” experience working with, and thorough knowledge of the following: Processing (includes system input, maintaining files of related documents, follow up on pending items): Letters of Credit issuances, amendments, drawings, evergreens. Risk participations taken under letters of credits; Loans & loan participations; Interest and Fees (calculations/reconciliations)
· Required Knowledge Systems: (a) Bank Fusion Midas (or comparable system), Trade watch (OFAC) or similar system), (b) SWIFT Alliance
· Related regulatory and compliance: (a) OFAC, USA Patriot Act, AML, Anti-Boycott, Restrictive Trade Practices, etc.; (b) UCP 500, UCP 600, ISP 98, & International Standard Banking Practice (for documentary practice)
· Accuracy & attention to detail
· Above average skills in the following areas: Communication (written & verbal), analytical, organizational, math, people skills (ability to relate to people at all levels), PC skills (Excel & Word)
· Ability to multi-task & prioritize in a fast-paced environment, and when working under pressure.
· Ability to provide rapid responses to requests for comments and drafts related to Standby Letters of Credit.
· College Degree preferable/a plus.
Valid through: 6/30/2021